F- Quantitative Analysis in Management Decision
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Quantitative Analysis in Management DecisionQuantitative Analysis for Management DecisionsAssignment 1Answer the Following Questions clearly as per the instructions.Be sure to submit on time.Q1. A pharmacy has determined that a healthy person should receive 70 units of proteins,100 units of carbohydrates and 20 units of fat daily. If the store carries the six types of healthfood with their ingredients as shown in the table below, what blend of foods satisfies therequirements at minimum cost to the pharmacy? Make the mathematical model.Foods Protein units Carbohydrates units Fat units Cost per unitA 20 50 4 2B 30 30 9 3C 40 20 11 5D 40 25 10 6E 45 50 9 8F 30 20 10 8Q2. A firm manufactures two products; the net profit on product 1 is Birr 3 per unit and Birr 5per unit on product 2. The manufacturing process is such that each product has to beprocessed in two departments D1 and D2. Each unit of product1 requires processing for 1minute at D1 and 3 minutes at D2; each unit of product 2 requires processing for 2 minutesat D1 and 2 minutes at D2. Machine time available per day is 860 minutes at D1 and 1200minutes at D2. How much of product 1 and 2 should be produced every day so that totalprofit is maximum. (solve with graphical method)Q3. Solve the following LP problem by graphical method: Maximise Z = 300X1 + 700X2Subject to the constraints: X1 + 4X2 ≤ 20 2X1 + X2 ≤ 30 X1 + X2 ≤ 8 And X1, X2 ≥ 0Q4. Discuss a few areas for application of quantitative analysis in your organisation ororganisation you are familiar with for decision making.Q5. Take the data of the output of your organisation, summarise them with some tool (likebar chart, pie chart, etc.) and discuss the result. Give your opinion to improve the results inthe future.
"96% of our customers have reported a 90% and above score. You might want to place an order with us."
